In the midst of the Great Depression, a group of determined chorus girls—Carol, Trixie, and Polly—find themselves out of work when their Broadway show is shut down for not paying its bills. Facing financial hard times, they team up with their down-on-his-luck producer, Barney, who is equally desperate to make their new show a success. Barney shares news of secret financial backing from a mysterious benefactor, energizing their hopes for the show's revival. Polly enlists the help of her neighbor and struggling songwriter, Brad, who turns out to be holding a secret that he prefers to keep under wraps: he comes from a wealthy family, and he's been secretly financing the production to help the girls realize their dreams.

Complications arise when Brad's rich older brother, J. Lawrence Bradford, arrives in town intent on stopping his brother from squandering his wealth on what he considers frivolous pursuits. Convincing him otherwise becomes the central challenge for the girls. Trixie, in particular, devises a comedic scheme to ensnare one of the brothers in her charms to secure their financial future. Meanwhile, romances blossom behind the scenes as the group works tirelessly to get their musical off the ground. As opening night approaches, tensions run high, and the group must confront misunderstandings and mistaken identities to ensure that love triumphs and the show can go on.